Corruption, Bribery & Remediation
Developing best-practice anti-corruption and anti-fraud compliance programmes is important in the remediation steps when addressing weaknesses in the controls of the business. This includes the implementation of enhanced internal controls and tailored risk-based due diligence systems.
Corruption, Bribery & Remediation
In conjunction with our investigations services, we also advise on remediation steps to address weaknesses in the controls of the business; which may have come to light as a result of an investigation into corruption or bribery allegations.
Case examples of our work
Assignment 1: Hostile environment investigation
A UK organisation requested an investigation into alleged corruption within a company headquartered in a war zone. A forensic audit was undertaken, including a review of books and records, and interviews with the directors of the company. The investigation was conducted in the country, and was conducted with sensitivity towards both the target investigated and the client. The team undertook Hostile Environment Training for the assignment.
Assignment 2: Anti-bribery investigation
A HKSE listed pharmaceuticals company received whistleblower allegations of bribes being paid in Asia to secure contracts. Our investigation identified salesmen were fraudulently claiming expenses using fabricated documents. They were utilising the ill-gotten cash to bribe doctors and secure orders for the pharmaceutical products on an endemic scale.
Assignment 3: Management buy-out
On behalf of a UK listed company in the defence industry, we managed a project team in design and implementation of an anti-bribery and corruption remediation programme, following allegations of bribery in multiple overseas subsidiaries. The work included review of the existing policies and procedures, design recommendations and testing.
Assignment 4: Anti-bribery remediation (defence sector)
The approval of construction of HS2 had resulted in the compulsory purchase of land and buildings of a country farm shop and sister wedding business in the Midlands. A claim was issued for recompense of the associated loss of profits and loss of business. We assessed the books and records for the two sister companies. Through forecasting lost future profits in conjunction with growth projections, we provided an independent valuation for the losses suffered.
Assignment 5: Anti-bribery remediation (engineering sector)
On behalf of a UK listed company in the engineering sector, following the detection of bribes paid to secure contracts throughout Europe. We managed the design and implementation of an anti-bribery remediation programme across Europe.
Advice on remediation
Opus works with businesses when they have concerns about illegal or unethical business conduct, particularly with regard to corrupt practices and non-compliance with anti-corruption laws. Long-term, it is also important to manage risk of bribery and corruption and better protect your business from future unethical conduct. If you would like to speak to Opus about your business’s integrity, please contact our Partner, Nicholas Parton.
Technical forensic accounting advice and assistance
“I am very pleased to recommend Nicholas Parton, head of forensic accounting at Opus to anyone who is looking for an excellent forensic accountant. I am a practicing litigation solicitor for over 30 years. I have instructed Nicholas for a number of years. His expertise has produced what I required every time. Nicholas provides me with technical advice and assistance in a timely and cost effective way. He places great emphasis on wanting to understand the client, their needs and expectations, as well as mine as instructing solicitor. His approachable manner makes him my “go to “ forensic accountant.”